Should You Close Your Credit Card Account? - The Credit Pros

from The Credit Pros Podcast · host The Credit Pros

Closing a credit card can negatively impact your credit score by increasing credit utilization and reducing the average age of accounts. However, valid reasons to close an account include uncontrollable spending, high annual fees, and separation or divorce. To close an account, redeem rewards, pay off balances, contact the issuer, send a certified letter, check your credit report, and securely dispose of the card. Closing a card can prevent potential debt and reduce fraud risk.

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This episode is 3 minutes long.

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This episode was published on July 25, 2025.

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